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New Member
amalexander0
Posts: 7
Registered: ‎03-28-2011

Capital One consolidating credit cards

I currently have two capital one credit cards, one is the platinum card the other no hassle rewards.  Has anyone had experience with them letting you consolidate this into one credit card? I would prefer to get rid of the platinum card as it has no benefits, but it has the higher credit limit.

Established Contributor
shane82388
Posts: 952
Registered: ‎07-16-2010

Re: Capital One consolidating credit cards

I remember looking in to this before when I was only being pre-approved for Capital One cards and already had one...

 

the general concensus on here was that they dont do that anymore...they would rather you have multiple cards with low limits and charge lots of fees twice as opposed to once.

$1200 $1250 $1250 NPSL $5300 $1350 $2537

$1750 $5000 $7500 $2416 $6500 $3000
Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011

Re: Capital One consolidating credit cards

I've tried consolidating the same two cards you have (I got them when I was rebuilding last year) and I was told nope, no way, sorry, you're a Great customer but, we can't help you blah blah....................

 

These two Cap1 CC's are probably going bye bye, now that I just got a 5,000CLI on my BoA World MC today, so closing these two Cap1 CC's with a combined CL of 1,250 will not hurt me, I'll still have 42,500 total revolving credit.

 

It's a shame because I have had no problems with Cap1, other then them always declining my CLI requests, and requests to upgrade to a better card, my credit score was like a 610 when I apped in June and Sep last year for these two CC's and now with Ficos near 800 they still won't budge, so maybe time to put them to rest, they have served their purpose.


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New Member
amalexander0
Posts: 7
Registered: ‎03-28-2011

Re: Capital One consolidating credit cards

I may consider closing my platinum account as well, I also have a combined limit of 1250 between the two cards. I'll keep the no hassle rewards open since the rewards are decent (2% on gas and groceries) even though it has a low limit.  But I'm still hesitant cause I don't know the effect on my credit score. My platinum account is 2 years old.

Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011

Re: Capital One consolidating credit cards


amalexander0 wrote:

I may consider closing my platinum account as well, I also have a combined limit of 1250 between the two cards. I'll keep the no hassle rewards open since the rewards are decent (2% on gas and groceries) even though it has a low limit.  But I'm still hesitant cause I don't know the effect on my credit score. My platinum account is 2 years old.



The only way closing a CC will hurt your score is if it brings your util up, do you have other CC's that have decent limits where closing the platinum with I assume a 500CL wont hurt your util?

 

Even after closing the platinum, it will continue to report for the next ten years, so you will not take an AAoA loss by closing the card now, you will lose the TL in ten years tho, but by then hopefully you will have a high AAoA.


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

Take the FICO Fitness Challenge



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